Simple Interest


Tests
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Sample
Simple Interest [Test 1]
1) Matt's current bank balance is $9,600.00. Bank offers a simple interest with monthly rate of 1.67 %. Interest earned is computed and deposited every years. What was the bank balance years ago?
$
2) Jasmine's current bank balance is $199,092.00. Bank offers a simple interest with monthly rate of 1.92 %. Interest earned is computed and deposited every years. What was the bank balance years ago?
$
3) Matt's current bank balance is $70,272.00. Bank offers a simple interest with monthly rate of 1.00 %. Interest earned is computed and deposited every years. What was the bank balance years ago?
$
4) George lended $111,600.00 to a friend with anual interest rate of 15.00 %. What is the total amount George will receive after 7 months. The interest is computed as simple interest and is not compunded.
$
5) Max borrowed $27,600.00 from the bank with anual interest rate of 12.00 %. What would be the total amount that Max need to pay after 6 years.
$
6) A local bank offers a fix deposit scheme with maturity of 8 years and monthly interest rate of 1.83 %. Interest is computed only once at the maturity date as a simple interest. Mr. B deposited $96,000.00 in that scheme. How much interest money would Mr. B earn?
$
7) Matt lended $104,400.00 to a friend with anual interest rate of 15.00 %. What is the total amount Matt will receive after 3 months. The interest is computed as simple interest and is not compunded.
$
8) Jacob borrowed $108,000.00 from the bank with anual interest rate of 5.00 %. What would be the total amount that Jacob need to pay after 7 years.
$
9) Mr. B received a total of $17,280.00 from the bank. The bank paid the simple interest with yearly rate of 10.00 %. How many years ago did Mr. B deposited $9,600.00?
10) Val received a total of $95,040.00 from the bank. The bank paid the simple interest with yearly rate of 20.00 %. How many years ago did Val deposited $39,600.00?